2006-08-04 08:58:55 · 11 answers · asked by Kimmie 2 in Business & Finance ➔ Renting & Real Estate
That can be anywhere from 30 days to 3 months, it all depends on the lender and what agreement you came to on the loan contract.
2006-08-04 09:03:43 · answer #1 · answered by lignebur72 5 · 1⤊ 0⤋
You will pay the interest for the remainder of September at closing. At the beginning of October, your loan will begin accruing interest normally, and whereas it is possible that the lender would roll another month in if you asked them to, the first payment would normally be due at the end of October, on November 1. It will be past due on November 16th, and if you haven't paid it by then you will be required to pay a penalty.
Rent is paid in advance. Mortgages are paid in arrears, because the lender hasn't earned the interest at the beginning of the month.
2006-08-04 16:51:57 · answer #2 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
Typically the it would be the 1st through the 15th of November. Depending on your contract details and the lender and mortgage company that you worked with. ALWAYS when I close a deal, I tell my client when he/she is supposed to make their first payment.
2006-08-04 16:18:09 · answer #3 · answered by jawsh0219 2 · 0⤊ 0⤋
Anywhere from 30- 45 days usually. Depends on what your Mortgage contract states.
2006-08-04 16:05:30 · answer #4 · answered by educated guess 5 · 0⤊ 0⤋
most likely, on november 1st. check with your lender, though!
also, check your closing package you take home from the attorney's office. there will possibly be a payment slip in there, with the mailing address, first payment date, amount, etc. in there! ask your closing attorney if it's in the closing package, if you're not sure!
good luck with your purchase!
2006-08-04 23:41:48 · answer #5 · answered by thetoothfairyiscreepy 4 · 0⤊ 0⤋
minimum of 30 days from closing, depending on how the loan is written
2006-08-04 16:17:21 · answer #6 · answered by Dwight D J 5 · 0⤊ 0⤋
November 1st.
2006-08-04 16:04:33 · answer #7 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Traditionally, somewhere between November 1st and 15th.
2006-08-04 16:10:34 · answer #8 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
Typically, 11/1. But double check your documents when you get them.
2006-08-04 16:04:55 · answer #9 · answered by Homer J. Simpson 6 · 0⤊ 0⤋
"Searchlight Crusade" has provided the best and most accurate answer to you question. Always check you loan documents though to be sure.
2006-08-04 20:02:52 · answer #10 · answered by comic1965 2 · 0⤊ 0⤋